BETHESDA, MD - Walker & Dunlop, Inc. announced that it received two top awards at the 2013 Fannie Mae DUS Meeting in Washington, DC for deals closed in 2012. The Company received the 2012 Top DUS Producer award for its volume of over $4 billion in multifamily loan originations for Fannie Mae and the 2012 Outstanding Structured Partnership award, for completing the most complex structured loan for Fannie Mae's portfolio last year. Each year Fannie Mae recognizes lenders in the DUS program for excellence in financing within the platform.
The 2012 Outstanding Structured Partnership award was presented for The Waterfront at Pu'uloa in Hawaii. Walker & Dunlop enabled a large borrower to acquire a 1,450-unit multifamily development in Ewa Beach, HI, at the mouth of Pearl Harbor. The complex transaction included a ground lease with the US Navy, an in-process beach restoration project and a borrower request to have both a fixed-rate and floating rate element to the financing, along with the ability to release portions of the collateral and loan. Walker & Dunlop and Fannie Mae collectively arrived at a creative solution, allowing the borrower to assume the existing $177MM DUS loan, pay $134MM out of pocket to close, and then take out the assumed loan with a new credit facility within 90 days. Walker & Dunlop Senior Vice President, Jeff Burns led the Walker & Dunlop team with the assistance of Angelica Dichoco , Elpidio Masbad and Veronica Langhofer.
Walker & Dunlop Chief Credit Officer and Executive Vice President, Richard Warner, commented, "Our 75-plus years of experience in property finance, an experienced Walker & Dunlop team and our long-standing relationship with Fannie Mae are what made The Waterfront at Pu'uloa deal possible. It was one of the most complex deals we have worked on, due to all of the unique elements, including the location, ground lease, restoration project and loan structure. Closing this transaction took teamwork, talent and experience; all hallmarks of the way we do business at Walker & Dunlop."
Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. (NYSE: WD) is one of the leading commercial real estate finance companies in the United States, with a primary focus on multifamily lending. As a Fannie Mae DUS, Freddie Mac Program Plus® and MAP- and LEAN-approved FHA lender, the Multifamily and FHA Finance groups are focused on lending to property owners, investors, and developers of multifamily properties across the country.
Source: Walker & Dunlop / #Multifamily #Finance